The VBG Group acquires leading European manufacturer of Sliding Roofs for trucks and trailers
VBG AB, a public company in Sweden is establishing a new product range in the business area Truck Equipment through the acquisition of the German Group Edscha´s Division Sliding Roofs for trucks and trailers. The acquisition comprises all shares in the four companies situated in Germany, the Czech Republic and Belgium (2). The division has an annual turnover of approx. 40 MEURO with approx. 120 employees.
Through the acquisition the VBG Group will broaden its market base and further strengthen its position in the heavy goods vehicles business.
Finance
The purchase price amounts to approx. 38 MEURO. The acquisition will be financed through own liquid assets and loan financing in bank. The agreement was signed today and the operation will be incorporated in the Group as from the fourth quarter of 2005.The acquisition is estimated to have a positive impact on the Group income already during 2005.
Edscha market leader
Sliding roofs were built up by Edscha in the late 1960s. The system offers ergonomic and fast operation for loading/unloading. Today Edscha is the dominating brand name in the market. Also, as strong complements to the Edscha brand, the Sesam and Focus brand names are incorporated and marketed by the companies in Belgium.
Statement by Dr. Manfred Puhlmann, President and CEO of Edscha AG
” The division Sliding Roofs for trucks and trailers does not belong to the strategic core business of the Edscha Group. The division turns to truck body builders, a completely different customer category than car manufacturers which is the main target group for Edscha. In VBG AB we have found a buyer with a core business that further can develop synergy effects and thus open up for new perspectives for the division and its current employees, explains Dr. Manfred Puhlmann.
VBG Group strengthens its position
The strong position that the VBG Group already enjoys will be further strengthened on several important European markets such as Germany, Benelux, France, Spain and Italy. The acquisition is a first step into the trailer market but also offers new possibilities for establishing on the growing Asian market. Through the acquisition the group will also obtain a production facility in the Czech Republic, a part of Europe that is gaining a more and more strategic importance.
“ We have been supplying coupling system solutions to the truck body builders in Europe for a long time and we want to broaden our offer to comprise more services for a continued growth. With the purchase of the Edscha Sliding Roofs for trucks and its strong brand names and excellent market position we are taking a big step forward in accordance with our acquisition strategy, Anders Birgersson, President and CEO of VBG AB declares.
For more information:
Anders Birgersson, President and CEO
Telephone: 0521-27 77 67, mobile 0702-27 77 78, e-mail: abi@vbgab.com
About VBG AB
VBG AB in Vänersborg is the parent company of an international engineering Group with production facilities in Sweden and Germany and sales companies in Norway, Denmark, England, France and the US. The business is concentrated on Truck Equipment and an additional business area of Machine Element.
The VBG B-share has been registered on the Stockholm Stock Exchange since 1987. Group turnover 2004 amounted to MSEK 605 and average number of employees to 308.
www.vbgab.com